Turkey Strikes Deal with Gazprom for Gas Price Cut
Turkey has concluded a final deal with Russia's Gazprom that will cut the price of gas it buys from Russia by 10.25 percent, Energy Minister Taner Yildiz said on Friday. The deal will not lead to lower domestic gas prices because of the weakness of the lira, Yildiz told reporters in Ankara. Gazprom, in a statement on Friday…
Russia to Stop Gas to Ukraine Absent Prepayments
The CEO of Russian gas company Gazprom said on Wednesday Russia would stop exporting natural gas to Ukraine unless it received prepayment from Kiev for energy supplies, Interfax reported. Gazprom also said that Ukraine had approximately three days left of prepaid gas deliveries from Russia, Interfax reported…
Gazprom Trading Unit Moving to Russia from London
Gazprom's energy trading unit Gazprom Marketing and Trading is moving to St Petersburg from London, Russian news agency Interfax cited sources as saying on Friday. Sources at the Gazprom unit could not immediately confirm the move to Reuters. (Reporting by Thomas Grove; Editing by Elaine Hardcastle)
Gazprom: 2015 Investments at $18.1bil
Russia's top natural gas producer Gazprom said on Thursday its management board has approved the investment program for 2015 at the amount of $18.1 billion. The company also said it is ready to start construction of undersea part of South Stream gas pipeline via the Black Sea to Europe. (Reporting by Vladimir Soldatkin, Editing by Thomas Grove)
Putin: Current Oil Price No Tragedy for Russia's Budget
Russian President Vladimir Putin said on Friday that the current low price of oil was not a tragedy for Russia's budget, which is highly dependent on energy revenues, and that he believed it would see an upward correction. Speaking at a briefing after talks with Ukrainian President Petro Poroshenko in Milan…
Putin Does Not Rule Out Budget Spending Cuts as Energy Prices Decline
Russian President Vladimir Putin said on Tuesday he cannot rule out revisions to the recently adopted budget to limit spending in light of declining energy prices. Russia's government gets nearly half of its revenues from tax receipts from oil and gas exports. The 2015-2017 budget is based on an average oil price of $100 per barrel.
Lukoil Says Romanian Prosecutors Searched its Oil Refinery
Lukoil, Russia's No.2 oil producer, said on Thursday that prosecutors in Romania have carried out searches at its oil refinery Petrotel in the city of Ploiesti and confiscated some accounting documents. "Searches were conducted in Ploiesti, accounting documents were confiscated," a spokesman for Lukoil said.
Bashneft: Operations Unaffected After Court Seized Sistema-Owned Shares
Russian oil company Bashneft says its operational activity has not been affected after a Moscow court seized shares owned by its parent-company oil-to-telecoms conglomerate Sistema. Sistema is controlled by oligarch Vladimir Yevtushenkov, who is under house arrest on suspicion of money laundering during the acquisition of Bashneft.
Russia Denies Plans to Block Gas Transit to Europe
Russian Energy Minister Alexander Novak dismissed Ukraine's claims that Moscow plans to block gas transit to Europe, saying on Wednesday that the assertions are groundless. His comments were published after Ukrainian Prime Minister Arseny Yatseniuk said earlier on Wednesday Kiev knew of Russian plans to halt gas flows this winter to Europe.
Yamal LNG Project on Track Despite Sanctions
Russia's Yamal LNG project, slated to produce 16.5 million tonnes of frozen gas from 2018, will be launched on time despite Western sanctions, the head of project's operator, Russia's Novatek, said on Thursday. Leonid Mikhelson also said the company and other shareholders in the project, including France's Total and China's CNPC…
Ex-Yukos CFO Pleased with ECHR Damage Ruling
Bruce Misamore, former chief executive officer of now-defunct Russian oil producer Yukos, said on Thursday he was "very pleased" with a decision from Europe's top human rights court to award shareholders with 1.9 billion euros in damages. The Strasbourg-based European Court for Human Rights (ECHR)found that Russia had failed to "strike a fair balance" in its treatment of Yukos…
Russia Says Sanctions Will Increase Europe Energy Prices
Russia's Foreign Ministry said on Wednesday that sanctions imposed by the European Union over the crisis in Ukraine will "inevitably" lead to higher energy prices in Europe. "By going on a sanctions spree, Brussels, by its own will, is creating barriers for further cooperation with Russia in such a key sphere as energy. This is a thoughtless and irresponsible step.
Novatek Assessing Sanctions Effect on Joint Projects
Russia's second largest natural gas producer Novatek said on Wednesday it was assessing the impact of U.S. sanctions on the financing of joint investment projects. In its quarterly report, it also said that net profit surged in April-June - before the sanctions were imposed - thanks to the launch of its processing complex in the Baltic Sea.
Russia Could Export Extra Oil From Kozmino in 2014
Russia could ship an additional 1.2 million metric tons of ESPO crude oil from the Pacific port of Kozmino due to a fire, which halted output at Achinsk refinery in June, a spokesman for oil pipeline monopoly Transneft told Reuters on Wednesday. "The exports could be increased by 1.2 million metric tons due to the accident at Achinsk refinery," Igor Dyomin said.
Ukraine parliament strikes down PM's energy proposals
Ukraine's parliament struck down plans by Prime Minister Arseny Yatseniuk on Thursday to guarantee the government tighter control over the energy sector in the face of dwindling natural gas supplies after Russia cut off exports last month. The plans would have allowed Kiev to dictate domestic gas flows irrespective of pre-existing contracts…
Russia Grants Gas Respite, Seeks U.N. Ukraine Vote
Moscow complains situation worse since Ukraine election; demand for U.N. resolution on end to violence. Russia accused Ukrainian authorities on Monday of escalating violence against civilians in the rebel-held east of the country, even as it offered Kiev a brief respite in a dispute over billions of dollars' worth of unpaid gas bills.
Ukraine Says Paid Russia $786m for Gas Debt
Ukraine has paid $786 million to Russia in backpayments for natural gas deliveries, far less than the sum Gazprom demands, Ukrainian Prime Minister Arseny Yatseniuk said on Friday. Yatseniuk said Kiev had paid the debt calculating the sum at a price of $268 per thousand cubic metres - the level Russia had…
Mediator Heads To East Ukraine, Seeking Surrenders
A mediator from Europe's OSCE security body headed to eastern Ukraine on Saturday seeking the surrender of pro-Russian separatists as the Kiev government declared an Easter truce following a peace accord with Moscow. Gunmen occupying public buildings in Donetsk and other Russian-speaking border towns refuse to recognise an accord in Geneva on Thursday by which Russia…
Energy Takes Centerstage in U.S., Russia Dispute
President Vladimir Putin warned on Thursday that Russian gas supplies to Europe could be disrupted if Moscow cuts the flow to Ukraine over unpaid bills, drawing a U.S. accusation that it is using energy "as a tool of coercion". In a letter to the leaders of 18 European countries, Putin made clear that his…
Ukraine Calls "Easter Truce" As Separatists Hold Firm
The Ukrainian government said it will not attack pro-Russian separatists over the Easter weekend as its U.S. ally threatened Moscow with new sanctions if it fails to persuade the militants to surrender. The Kremlin denies having control over gunmen who want their eastern regions to follow Crimea in being annexed by Russia.
